Question 7 of 18 -11 Ivanhoe Company has completed all of its operating budgets. The sales budget for the year shows 50,140 units and total sales of $2,294,200. The total unit cost of making one unit of sales is $24. Selling and administrative expenses are expected to be $304,600 Interest is estimated to be $13.820. Income taxes are estimated to be $221,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2020. IVANHOE COMPANY Budgeted Income Statement Question 7 of 18 e Textbook and Media Question 8 of 18 - 71 View Policies Current Attempt in Progress Blossom Industries expects credit sales for January February, and March to be $ 205,100, $265,200, and $317.000, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. Collections from Customers February January March Credit Sales January $ February March e Textbook and Media